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Delhivery Shares Jump Nearly 10% After Q2 Swing To ₹41 Cr Profit

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Delhivery Shares Jump Nearly 10% After Q2 Swing To ₹41 Cr Profit

Shares of Delhivery jumped 9.7% to an intraday high of ₹423.35 on the BSE after the logistics company reported a consolidated net profit of ₹40.6 Cr in Q2 FY27, against a net loss of ₹50.5 Cr a year earlier.

The stock later pared some gains to trade 7.6% higher at ₹415.40 apiece at 12:12 IST. The company’s market capitalisation stood at ₹31,135.2 Cr (about $3.3 Bn) at the time.

Brokerage firm Equirus Securities upgraded Delhivery to ‘Long’ from ‘Reduce’, with a target price of ₹505. This implies an upside of 30.8% from the stock’s previous closing price of ₹386.

Equirus expects Delhivery’s revenue, EBITDA, and express parcel volumes to grow at compound annual growth rates of 21%, 39%, and 22%, respectively, between FY26 and FY29, driven by market share gains, improving part truckload (PTL) margins, and operating leverage.

The brokerage estimates revenue of ₹12,963.3 Cr in FY27 and ₹15,107.3 Cr in FY28, with net profit of ₹381.4 Cr and ₹694.5 Cr, respectively.

Delhivery’s consolidated operating revenue rose 19.8% to ₹3,066.4 Cr in Q2 FY27 from ₹2,559.3 Cr a year earlier. Sequentially, revenue increased 4.6% from ₹2,930.7 Cr.

Including other income of ₹66.6 Cr, total income stood at ₹3,133 Cr, compared with ₹2,651.5 Cr in Q2 FY26.

Total expenses increased 14.2% to ₹3,093 Cr from ₹2,708.1 Cr. Freight, handling, and servicing costs, its largest expense head, rose 19.1% to ₹2,195.1 Cr.

2 Cr a year earlier. 6 Cr.



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